Help with mortgages

Three quarters of lenders fail to pass on Base Rate cut
The recent Bank of England 0.5% cut to the Base Rate has yet to be passed on to the most of the standard variable rate mortgage customers.

Robin Maillard, financial adviser, said "Many people have equity in the property they are living in but are struggling to pay debt and because they may have missed some payments on their debts think they cannot get out of the difficulties that they find themselves in. Or it may be that the special deal they negotiated a few years ago has come to an end and they think that there is nothing they can do but pay the higher monthly charge on their present mortgage."

He emphasised that there are schemes available to help them and a discussion with one of our qualified advisers will soon show whether they can take back control of their finances.

First time buyers

It is much more difficult for first-time buyers to get a mortgage because of the 'credit crunch'. However for those who have the deposit and and relevant income, this is now a good time to buy property. The falling house prices and the lack of serious buyers gives an advantage to the buyers who are in a position to dictate the terms of a deal.

Even for those who may not have had a chance to save the deposit or are concerned that your income is not high enough for the mortgage they need, there are other options available. Contact our mortgage advisors for advice (use the contact form on this page).

Self employed mortgages
Again it is now much more difficult for the self employed to get mortgages because of the 'credit crunch'. The mortgage lenders will no longer just accept the stated income from the self employed, who will now need to find a way to prove their income levels and demonstrate that it is a reliable income.

Again contact our mortgage advisors for advice (use the contact form on this page).